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- handle: 10670/1.fkgb3f
- halshs: halshs-01165475
info:eu-repo/semantics/OpenAccess
Mots-clés
participation rate taux de revalorisation profit sharing policy life insurance panel data regulatory database G - Financial Economics/G.G1 - General Financial Markets/G.G1.G11 - Portfolio Choice • Investment Decisions G - Financial Economics/G.G2 - Financial Institutions and Services/G.G2.G22 - Insurance • Insurance Companies • Actuarial Studies E - Macroeconomics and Monetary Economics/E.E2 - Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy/E.E2.E21 - Consumption • Saving • Wealth E - Macroeconomics and Monetary Economics/E.E4 - Money and Interest Rates/E.E4.E49 - OtherSujets proches
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Fabrice Borel-Mathurin et al., « Main Determinants of Profit Sharing Policy in the French Life Insurance Industry », Archive Ouverte d'INRAE, ID : 10670/1.fkgb3f
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Résumé
We use a brand new data-set built from French supervisory reports to investigate the drivers of the participation rates served on euro-denominated life-insurance contracts over the period 1999-2013. Our analysis confirms practitioners’ insight on the alignment with the 10-years French government bond, yet we show that on aggregate, insurers serve less than this target. Our data indicate that financial margins are more strictly targeted than participation. We find evidence that lapses are fairly uncorrelated with participation, suggesting other levers to pilot surrenders. If higher asset returns can imply better yield for policyholders, riskier portfolios do not translate into better participation